Planning for living in a retirement village – a check list

When you feel it is the right time for you to move into a retirement village, there are important questions you can ask that will make your decision an easier one.

We have prepared a checklist of possible questions that you can print off and take with you when you visit a retirement village. We recommend that you visit as many villages as possible to see what they offer and see whether you could live there.

Lifestyle

Why do I want to move to a retirement village?

What location or area do I want to live?

Do I want to be near my current home, close to family and friends or am I looking for a complete change?

What type of village will suit me most? Apartment living, an established older style village, a villa or a serviced apartment?

Have I talked with my family and friends about moving into a village?

Financial and Legal

What is included in the service or maintenance fees? Is it payable weekly, fortnightly or monthly? How often could this fee increase and will it increase much?

What does the service fee cover and what does it not cover. Could I continue to afford it if my spouse or partner dies?

Does the cost of the home, plus the ongoing monthly service fees fit into my budget?

What are the Exit fees / Deferred Management Fee (DMF), as villages are different?

How much is the deposit to secure a villa or apartment and is it refunded if I decide not to purchase?

If I leave the village am I entitled to a refund? How soon after leaving the village will the refund be paid?